How A Superpower Can Avoid Muscle Loss: JACQUES ATTALI

If the U.S. is to avoid becoming an economic stepchild to Japan and Europe, argues French writer JACQUES ATTALI, American society must declare war on its own shortsighted thinking

Q. After victory in the gulf and the cold war, the U.S. is standing tall. Yet you warn in your latest book, Millennium, that America is in decline and could end up as the granary of a Japan-dominated Pacific region. How come?

A. This is not wishful thinking, but I fear a relative decline brought about by a diminishing share of the global market and faster growth elsewhere. Industry is the only lasting foundation of a country's power, and America is lagging behind in manufacturing, which is at the core of a nation's wealth. With the notable exception of the microprocessor,...

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